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What is the difference between Financial Audit and Cost Audit Describe each of them?
A financial audit is an independent examination of a company's financial statements to ensure accuracy and compliance with accounting standards and regulations. It verifies that financial records reflect the true financial position of the organization. In contrast, a cost audit focuses on verifying the cost accounting records, ensuring that cost data is accurate and that the company adheres to cost control measures. While financial audits focus on overall financial integrity, cost audits are concerned with efficiency and the management of resources. For more insights on audit practices and project management training, visit PMTrainingSchool .Com (PM training).
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Difference between cost audit and financial audit?
Cost audit is done to audit the cost elements of unit costs while in financial audit, audit of financial statements is done to find out information provided is true and fair or not.
Difference between social accounting and social audit?
Difference between social accounting and social audit?
What is the difference between statutory and non statutory audits?
what is the difference between statutory audit and non statutory audit.
Difference between audit plan and audit program?
an audit program may contain several audit plans
Difference between internal audit and internal control systems?
Distinguish between internal audit and internal control.
What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
Difference between cost audit and financial audit?
Cost audit is done to audit the cost elements of unit costs while in financial audit, audit of financial statements is done to find out information provided is true and fair or not.
What is the difference between investigation audit and conventional audit in financial statement audit?
Purpose of investigation audit is to find out the evidance of the specific agenda for which investigative audit is conducted while conventional audit objective is to find out that financial statements represents the true and nature of business or not.
Differences between audit plan and audit program?
difference between audit program audit & note book
Difference between social accounting and social audit?
Difference between social accounting and social audit?
What is the difference between statutory and non statutory audits?
what is the difference between statutory audit and non statutory audit.
What is difference between informal audit and formal audit?
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Difference between audit plan and audit program?
an audit program may contain several audit plans
Difference between internal audit and internal control systems?
Distinguish between internal audit and internal control.
What is the main difference between public sector audit and private sector audit?
public sector audit is different from private sector audit
What is the difference between cost audit and management audit?
Mgt audit is not compulsory under the law .cost audit in certain industry ,it is legally compulsory
What is the difference between a safety audit and a safety insepction?
In may cases there is no difference between a Safety Audit and a Safety Inspection. Where there is one, it is because a particular company has specified that.
